FY2024 EPS Estimates for OmniAb Lifted by Leerink Partnrs

OmniAb, Inc. (NASDAQ:OABI - Free Report) - Equities research analysts at Leerink Partnrs raised their FY2024 EPS estimates for OmniAb in a report issued on Tuesday, January 7th. Leerink Partnrs analyst P. Souda now expects that the company will earn ($0.59) per share for the year, up from their prior forecast of ($0.62). The consensus estimate for OmniAb's current full-year earnings is ($0.62) per share.

Several other research analysts also recently weighed in on OABI. Benchmark restated a "buy" rating and set a $8.00 target price on shares of OmniAb in a research note on Thursday, November 14th. HC Wainwright restated a "buy" rating and set a $11.00 price target on shares of OmniAb in a research note on Thursday, November 14th.

OmniAb Price Performance

NASDAQ OABI traded down $0.07 on Thursday, hitting $3.57. The stock had a trading volume of 307,421 shares, compared to its average volume of 328,024. OmniAb has a 52-week low of $3.43 and a 52-week high of $6.72. The business's fifty day moving average price is $3.89 and its 200 day moving average price is $4.09. The stock has a market cap of $504.14 million, a price-to-earnings ratio of -5.76 and a beta of -0.10.

Hedge Funds Weigh In On OmniAb

Hedge funds and other institutional investors have recently bought and sold shares of the business. Palumbo Wealth Management LLC lifted its holdings in shares of OmniAb by 12.5% in the 3rd quarter. Palumbo Wealth Management LLC now owns 24,640 shares of the company's stock valued at $104,000 after buying an additional 2,744 shares during the period. Sei Investments Co. lifted its holdings in OmniAb by 11.0% in the second quarter. Sei Investments Co. now owns 29,024 shares of the company's stock valued at $109,000 after acquiring an additional 2,888 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in OmniAb by 64.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 22,727 shares of the company's stock valued at $96,000 after acquiring an additional 8,909 shares during the period. CWC Advisors LLC. purchased a new stake in OmniAb in the 3rd quarter worth approximately $54,000. Finally, FMR LLC grew its stake in shares of OmniAb by 10.6% during the 3rd quarter. FMR LLC now owns 138,813 shares of the company's stock worth $587,000 after purchasing an additional 13,324 shares during the period. Institutional investors and hedge funds own 72.08% of the company's stock.

About OmniAb

OmniAb, Inc, a biotechnology company, engages in the discovery and provision of therapeutic antibody discovery technologies in the United States. The company's technology platform creates and screens diverse antibody repertoires and identify optimal antibodies for partners' drug development efforts.